Problem
QUESTION 6 Solve the problem. Round your answer to the nearest cent. Brad invests \( \$ 5700 \) in an account paying \( 10 \% \) compounded monthly. How much is in the account after 15 months? \( \$ 6421.19 \) \( \$ 5759.44 \) \( \$ 6455.60 \) \( \$ 23,810.31 \)
Solution
Step 1 ：A = P(1 + \frac{r}{n})^{nt}
Step 2 ：A = 5700(1 + \frac{0.1}{12})^{12*{15}/{12}}
Step 3 ：A = \$ 6455.60
